Bank of America Earnings Won't Keep Shares Past $10:
NEW YORK (TheStreet) -- Bank of America's first quarter earnings are expected to get a lift from strong fixed income trading activity when the bank reports April 19, but investors will need to see stronger evidence of a sustained earnings turnaround at the bank to lift the shares meaningfully past the $10 mark.
Consider, for example, Baird Equity analyst David George, who downgraded Bank of America in a note published Tuesday even while upping his 2012 earnings estimates to $0.65 from $0.50 mainly due to expectations of a strong first quarter.
George and his colleagues explained the discrepancy in the note by stating that they "do not believe the intermediate-term earnings outlook justifies putting new money to work in the stock."
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Click to view a price quote on BAC.
Click to research the Banking industry.
NEW YORK (TheStreet) -- Bank of America's first quarter earnings are expected to get a lift from strong fixed income trading activity when the bank reports April 19, but investors will need to see stronger evidence of a sustained earnings turnaround at the bank to lift the shares meaningfully past the $10 mark.
Consider, for example, Baird Equity analyst David George, who downgraded Bank of America in a note published Tuesday even while upping his 2012 earnings estimates to $0.65 from $0.50 mainly due to expectations of a strong first quarter.
George and his colleagues explained the discrepancy in the note by stating that they "do not believe the intermediate-term earnings outlook justifies putting new money to work in the stock."
...
Click to view a price quote on BAC.
Click to research the Banking industry.
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